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Charles Kirk, author of the popular Kirk Report, points out that Indian Internet stock (ticker: REDF) is on a run., an Indian portal, was founded in 1996 and taken public in 2000 by Goldman Sachs and CSFB. Mr Kirk writes:

The momentum traders have been all over (REDF) lately and for good reason, it is one of the few out there with any real mojo. While I'm sure the heavy short-interest in this one is adding fuel to the fire, the company does have an interesting story (i.e. India + Internet = Profits). A cup-like formation is underway.

REDF chart

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